Correction or Surplus

The current state of the crypto market in September 2024 is likely to be influenced by several factors, with much of the debate focusing on whether the current price movement is a temporary correction or the result of a crypto surplus. Historically, September has been a month of volatility for crypto markets, particularly Bitcoin, which has averaged a -4.7% decline annually.

In addition, some analysts predict that the Bitcoin price could experience a correction to the $45,000-$50,000 range, especially if the US Federal Reserve decides to cut interest rates this month.

However, on the other hand, there is still optimism that the current correction is only temporary. A strong recovery is expected by the end of 2024, with Bitcoin expected to reach new highs if economic conditions and technical conditions are favorable.

This means that overall, although the market is currently experiencing a decline, in fact there are still many parties who believe that this is just a short-term correction, and it is convincing not to say that the condition is not a sign of a crypto surplus, because there are still many optimists who see the potential for the market to surge again at the end of this year.

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